No, SURGE will go up along with the price of LEO/LSTR. Since 100 SURGE can be converted into 2 LSTR, the price of SURGE should stay roughly equal to whatever 2 LSTR is worth. So, if LEO goes to $2 and the LPS is 50, that means LSTR should trade at $100 at par (with no premium). If 2 LSTR are worth $200, then 100 SURGE should also equal $200 (since it can be converted into 2 LSTR and sold for $200). That means SURGE should trade around $2 per token. If it's trading at $1.50, for example, someone could buy 100 for $150 and then immediately convert it into 2 LSTR and turn around and sell it for $200. Which is why SURGE will trade up in conjunction with LEO and LSTR.
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Understood. Makes sense! So I added into my position in SURGE even without realizing that! 😂